Where can we find the best foreign exchange rates for our dollars, pounds, yens, riyals, etc?

Based on my personal experience and those of people I know and comments I’ve read at online forums, the money changers giving the best foreign exchange rates in Metro Manila are:

Czarina Foreign Exchange (has several branches around Metro Manila)

Sanry’s Money Exchange (has several branches in Ayala malls)

Edzen Money Changer, 1151 Mabini St., Ermita

Moromax Money Changer, Robinsons Ermita

Tivoli Money Changer (Mabini, Trinoma, Eton Centris)

SM Mall Foreign Exchange Counters

BDO Banco de Oro

There are times Czarina gives higher exchange rates than Sanry’s; at other times, Sanry’s gives higher rates. But most of the time, their rates are higher than those of SM or BDO.

The one advantage of SM foreign exchange counters and BDO branches inside SM malls is their location. You’re protected by the mall, although you can’t be protected from sophisticated snatchers.

SM and BDO counters, however, are more strict in examining the bills. They want bills in almost perfect conditions. You also have to write the serial numbers of your foreign exchange bills on their slips.

There are other money changers or foreign exchange dealers that also give high exchange rates, but they’re only one branch, so they’re known only in their areas. I bet if you’re receiving foreign remittances monthly, you already know which money changer in your area gives the best exchange rate. My sis-in-law knows which gives the best rate in the Mabini area because she lives near there.

For big amounts of money, it is best to exchange your foreign currencies at money changers inside malls that have banks or cash deposit machines also inside these malls. You’re safer as you walk several steps from the money changer to the bank to deposit your money. Examples are:

Czarina and BPI at Alabang Town Center Sanry’s and BPI cash deposit machines at Glorietta and Greenbelt and BDO at nearby SM Moromax and Robinsons Bank at Robinsons ErmitaMoromax and Robinsons Bank at Robinsons Metro East Sanry’s and Robinsons Bank at Robinsons Galleria

Several branches of Czarina and Sanry’s locations are listed below.

I have NOT seen all the following locations, so please call first if they’re still there or if they’ve moved:

Naila’s Money Changer 1741 Mabini St., Malate – they answer inquiries online via chat at nailasmoneychanger.com – for buyers of foreign currencies, usually they have these available; call in advance for faster service

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